What is the minimum balance for a Bank of America checking account?

Here's the breakdown of minimum balances for checking accounts at Bank of America: SafeBalance Banking for Family Banking: $25 Advantage SafeBalance Banking: $25 Advantage Plus Banking: $100 Advantage Relationship Banking: $100

Can I avoid Bank of America checking fees?

You can avoid checking account fees if you maintain minimum balance requirements, make direct deposits or are under the age of 25 for SafeBalance Banking or Advantage SafeBalance Banking.

How do I get the $300 checking bonus at Bank of America?

You need to open either a SafeBalance Banking, Advantage Plus Banking or Advantage Relationship Banking account by July 31, 2025, using the account page. From there, you must also set up a total qualifying direct deposit of $2,000 or more into your account within 90 days of opening the account.

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Bank of America Checking Accounts: Compare Options, Fees and Features

July 24, 2025

9 min Read

Written by Rudri Patel

Edited by Elizabeth Constantineau

African American woman and her husband signing mortgage agreement during a meeting with their bank manager.

Drazen Zigic / Getty Images

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Bank of America, Member FDIC, is the second-largest U.S. bank, with over $2.5 trillion in assets and nearly 3,900 branches across 39 states and Washington, D.C. It offers four checking account options: SafeBalance Banking® for Family Banking, Advantage SafeBalance Banking, Advantage Plus Banking and Advantage Relationship Banking. Here’s how they compare.

Bank of America Checking Accounts: At a Glance

Account Name	Minimum Deposit	Monthly Fee	Best For
SafeBalance Banking for Family Banking	$25	$4.95, can be waived	Parents adding children under 25
Advantage SafeBalance Banking	$25	$4.95, can be waived	Simple, low-cost digital banking
Advantage Plus Banking	$100	$12, can be waived	Everyday use with overdraft flexibility
Advantage Relationship Banking	$100	$25, can be waived	High-balance users wanting premium features

SafeBalance Banking for Family Banking

This Bank of America checking account is a parent-owned account that a child can use. There are no monthly fees as long as your child is under 25.

The account also offers a debit card and online access for you and your child. There is no overdraft protection available on the account. Transactions will be declined if there aren’t enough funds in the account.

Advantage SafeBalance Banking

Advertised as the company’s “simple” banking solution, this account offers the features most people need with no frills.

Check writing isn’t available for this account, but you can make transactions with a debit card, Zelle or digital banking. You can still deposit checks in branches or through the mobile app. You won’t earn interest with this account.

Advantage Plus Banking

Bank of America calls this checking account its “flexible banking” solution. It comes with Balance Connect for overdraft protection, check writing ability, ATMs and all the services you’d expect from a traditional account.

Advantage Relationship Banking

Bank of America’s Advantage Relationship Banking product offers interest on your balances. Account holders can earn to annual percentage yield (APY), depending on their balance.

This account also offers a handful of other advantages, including checks and deposit slips, and fee waivers for incoming domestic wire transfers.

Bank of America Checking Account Fees and How To Avoid Them

Bank of America charges several common fees across its checking accounts. Here’s a quick look at what to expect — and how to avoid them.

General Fees

Type	Fee
International transactions	3%
Domestic non-Bank of America ATM withdrawals and transfers	$2.50
International non-Bank of America ATM transactions	$5
Wire transfers	Fees vary by type and destination

Account-Specific Fees

SafeBalance Banking for Family Banking

Monthly fee: $4.95
How to waive: There are no monthly maintenance fees for account holders under 25 years old, if you have a minimum daily balance of $500 or if you are a member of BofA’s Preferred Rewards program.
Overdraft fees: None, transactions will be declined if funds are insufficient
ATM fees: Standard fees apply

Advantage SafeBalance Banking

Monthly fee: $4.95
How to waive: There are no monthly maintenance fees for account holders under 25 years old, or if you have a minimum daily balance of $500 for that month, or if you are a member of BofA’s Preferred Rewards program.
Overdraft fees: None, transactions will be declined if funds are insufficient
ATM fees: Standard fees apply

Advantage Plus Banking

Monthly fee: $12
How to waive: This fee is waived in the months that you have at least one qualifying direct deposit of at least $250 or a minimum daily balance of $1,500 or are a BofA Preferred Rewards member.
Overdraft fees: $10 fee, up to two per day
ATM fees: Out-of-network fees apply

Advantage Relationship Banking

Monthly fee: $25
How to waive: You can waive by maintaining a minimum daily balance of at least $20,000 or if you are a Preferred Rewards member.
Overdraft fees: $10 fee, up to two per day
ATM fees: Standard ATM fees apply for out-of-network use

Bank of America Checking Bonuses and Preferred Rewards Perks

See how you can earn a $300 bonus and unlock extra perks through Bank of America’s Preferred Rewards program.

Bank of America Checking Bonuses

Bank of America is currently offering a $300 bonus for new customers who open a checking account. Here is what you need to know:

Open an eligible account: You need to open a SafeBalance Banking, Advantage Plus Banking or Advantage Relationship Banking.
Open by a specific date: You must open by July 31, 2025, using this account page.
Qualifying deposit requirement: You must have a total qualifying direct deposit of $2,000 or more into your account within 90 days of opening the account.
Receipt of bonus: After all requirements are fulfilled, you will receive your Bank of America bonus within 60 days. It will be automatically deposited into the opened account.

Bank of America Preferred Rewards

Bank of America Preferred Rewards members may not have a monthly maintenance fee on Advantage Banking accounts. To become a member, you’ll need at least $20,000 in combined Bank of America and Merrill deposit accounts as your average daily balance for three months.

The program offers four tiers, each based on your account balances.

Gold: $20,000 to $50,000
Platinum: $50,000 to $100,000
Platinum Honors: $100,000 to $1,000,000
Diamond Honors: $1,000,000 or more

How To Open a Bank of America Checking Account

After reviewing the options, maybe you’ve decided a Bank of America checking account is the right choice for you. You can open an account online or in a local branch. Here are some steps you can follow:

Step 1. Click the blue “Open Account” button online.
Step 2. Apply the sign-up bonus offer code, if applicable.
Step 3. Complete the application.
Step 4. You’ll need to provide some personal information and then fund the account with a transfer from another bank or another Bank of America account, or with a debit card, check or money order.
Step 5. Make sure you have the minimum opening deposit available for the account you choose.

Pros and Cons of Bank of America Checking Accounts

Like all financial products, there are drawbacks and advantages to Bank of America checking accounts. Here’s a look at both sides.

Pros

Wide variety of accounts to cover most people’s needs
Signing bonus for eligible customers
Highly rated mobile app
Vast network of branches and ATMs

Cons

Some checking accounts don’t offer interest
Available interest rates are low
Steep eligibility requirements for Preferred Rewards membership

Alternatives to Bank of America Checking Accounts

Looking for other options? These banks offer competitive checking accounts worth considering.

Bank	Minimum Deposit	Fees	Interest
Wells Fargo	$25	$5 to $35 monthly fees that are waivable	Up to APY
PNC	None	$7 to $25 monthly fees that are waivable	None
SoFi®, Member FDIC	None	No monthly fees	APY

Checking

Wells Fargo

4.7

GBR Rating

Wells Fargo Everyday Checking Account

Read Review

PNC Bank

4.3

GBR Rating

PNC Checking Account

Read Review

SoFi

5.0

GBR Rating

SoFi® Checking Account

Read Review

Fees

$5 to $35 waivable monthly fee

$7 to $25

No monthly fees

APY

Up to

N/A

Min Opening

$25

Final Takeaway

Bank of America has several account options as well as digital and in-person services that many people find useful. Before you open an account, make sure you think about your financial goals and what you need in a checking account. Then, do your research to make sure the bank you pick can help you meet them.

Bank of America Checking Accounts: FAQ

Have questions before you open an account? These quick answers cover fees, features, bonus requirements and more.

What is the minimum balance for a Bank of America checking account?
- Here's the breakdown of minimum balances for checking accounts at Bank of America:
  - SafeBalance Banking for Family Banking: $25
  - Advantage SafeBalance Banking: $25
  - Advantage Plus Banking: $100
  - Advantage Relationship Banking: $100
Can I avoid Bank of America checking fees?
- You can avoid checking account fees if you maintain minimum balance requirements, make direct deposits or are under the age of 25 for SafeBalance Banking or Advantage SafeBalance Banking.
How do I get the $300 checking bonus at Bank of America?
- You need to open either a SafeBalance Banking, Advantage Plus Banking or Advantage Relationship Banking account by July 31, 2025, using the account page. From there, you must also set up a total qualifying direct deposit of $2,000 or more into your account within 90 days of opening the account.

Emily Gadd and Dawn Allcot contributed to the reporting of this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of July 24, 2025.

SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.

We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.

SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.

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